Markets plunge as Trump surges in the polls

by David Child and Daniel Dawson

Global financial markets have plunged in the wake of Donald Trump’s ascendancy in the race for the White House.

Dow Jones Industrial Average futures have fallen almost 750 points, according to marketwatch.com. The Nasdaq has dropped by more than 100 points and The Standard and Poor, a capitalisation-weighted index of 500 stocks, sank 63 points in response to emerging polling data.

Elsewhere, the Mexican peso has nosedived, dropping more than 11 per cent. The currency has taken its greatest slide since 2008, drooping to an extent not seen since the Global Financial Crisis.

Asian financial markets have also reacted negatively to Trump’s upsurge in the polls, with the Nikkei index in Japan dropping approximately 4.5 per cent. Honk Kong’s Hang Seng index has also fallen, losing more than 400 points, equating to around 2 per cent of the market.

Trump has stated he would reverse long-standing trade agreements if elected and increase tariffs on imports from both Mexico and China.

As of 04:01 GMT, Trump had 168 Electoral College votes to Democrat Hillary Clinton’s 109. 270 votes are required to win the presidency.

Markets in London will open at 08.00 (GMT) and the New York Stock Exchange will follow a few hours after that.

Leave a Reply

Your email address will not be published. Required fields are marked *